Regulatory Alerts2016-01-01
Financial Institutions (Licensing Requirements) Regulations 2016
The Central Bank of Lesotho has issued the Financial Institutions (Licensing Requirements) Regulations 2016 to establish clear criteria and procedures for licensing banks and credit institutions. The regulations mandate a minimum local assets ratio of ten percent against public liabilities and require applicants to demonstrate adequate capital, fit-and-proper management, transparent ownership, and a robust business plan. New institutions must complete a structured application and evaluation process within forty-five days, secure licence approval for major shareholding changes, and maintain annual compliance to ensure stable financial intermediation in Lesotho.
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